With the increased interest in social media over recent years, the role of information disseminated through avenues such as Twitter has become more widely perceived. This paper examines the mention of stocks on the US markets (NYSE and NASDAQ) by a number of financial micro-bloggers to establish whether their posts are reflected in price movements. The Twitter feeds are selected from syndicated and nonsyndicated authors. A substantial number of tweets were linked to the price movements of the mentioned assets and an event study methodology was used to ascertain whether these mentions carry any significant information or whether they are merely noise.
Bibliographical noteThe full text is also available from: http://dx.doi.org/10.18559/ebr.2016.3.5
Funded by BES Seedcorn Funding
This article is under a Creative Commons Licence 3.0 (https://creativecommons.org/licenses/by-nc/3.0/)
- social network
- social media
- financial markets
- event studies